Tech stocks fell in Friday afternoon trading with the Technology Select Sector SPDR Fund (XLK) decreasing 0.8% and the SPDR S&P Semiconductor ETF (XSD) dropping 2.4%.
The Philadelphia Semiconductor index declined 1.8%.
In corporate news, Amazon.com (AMZN) reported higher Q4 earnings and net sales late Thursday and issued Q1 net sales guidance below expectations by analysts. The shares fell 3.8%.
Microsoft-backed (MSFT) OpenAI is set to receive a $40 billion primary investment from SoftBank at a $260 billion pre-money valuation, CNBC's David Faber reported. Microsoft shares fell 1.6%.
Pinterest (PINS) shares jumped 17%, a day after the company forecast double-digit Q1 revenue growth and posted better-than-expected sales in Q4.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.